Term
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Definition
| The auditor's plan for the expected conduct, organization, and staffing of the audit. |
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Term
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Definition
| Tests of transactions that both evaluate the effectiveness of controls and detect monetary errors |
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Term
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Definition
| A letter that formalizes the contract between the auditor and the client and outlines the responsibilities of both parties |
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Term
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Definition
| A violation of laws or governmental regulations |
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Term
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Definition
| Audit procedures performed to test material misstatements in an account balance, transaction class, or disclosure component of the financial statements |
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Term
| Substantive tests of transactions |
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Definition
| Tests to detect errors or fraud in individual transactions |
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Term
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Definition
| Audit procedures performed to test the operating effectiveness of controls in preventing or detecting material misstatements at the relevant assertion level |
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Term
| Tests of details of account balances and disclosures |
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Definition
| Substantive tests that concentrate on the details of items contained in the account balance and disclosure |
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